Modern farming is a complex business. There can be significant differences in methodology, equipment and systems depending on the nature of your farm and the region you operate in. In light of this diversity, a need has risen for a combined farm policy that can cover the key components of a farmer's insurance risk in one simple policy.
The process of lodging and settling an insurance claim can be difficult to understand. The Insurance Council of Australia estimated that 25 per cent of Australians were knowingly unaware of what they could claim under their insurance cover.
MGA brokers have the experience to know and understand the insurance covers that are required by farmers, which is why we source farm insurance covers that are packaged into one easy-to-understand policy.
What farm insurance options can MGA source?
At MGA, we understand that every farm has varying insurance needs. Under the package policies we recommend, there are a wide range of options available, from domestic home and contents, personal valuables and landlords, to more general farm property such as motor vehicle insurance. Farm insurance policies include covers for:
- Shedding and other structures
- Stored produce
- Livestock and working dogs
- Private or commercial motor vehicles
- Recreational use boats
We also recognise that insurance policies should be extended to other risks that farmers tend to face. This is why farm insurance can also cover:
- Business interruption
- Personal accident and illness
- Machinery breakdown and other electrical equipment
- Farm liability
- Farm continuation costs
- Management liability
How do MGA brokers operate?
The quoting process is simple, yet allows us to gain a thorough understanding of how you run your farm, and what insurance covers are best suited to your needs. An MGA representative will make themselves available to meet with you, preferably on your farm, to discuss any concerns or queries. This allows the MGA rep to provide the best advice and truly get to know our clients.
After this, we will search the insurance market, negotiate terms with the insurers and provide you with a competitive recommendation. If at any stage during this process you need to change any component of your policy, or your situation differs, all you need to do is pick up the phone.
At MGA, we understand the importance of flexibility and are happy to take the required action to ensure that your farm continues to be comprehensively covered.
Why should you have your farm insurance managed through MGA?
Our team has the experience as well as access to a range of quality insurance policies that can create the right options for your farm. We have been specialising in farm insurance for 40 years, so you know we understand how farms operate and can advise on particular covers which are relevant. Whether you need livestock covered or are concerned about accidental damage, we can ensure your insurance package is right for you.
We have a widespread presence across the country, with 39 metro and regional locations. Your local MGA Insurance broker is invested in ensuring our clients are satisfied. Through the collective size of MGA, we have successfully been able to negotiate a robust farm insurance policy, provided by Millennium Underwriting that is exclusive to our MGA network.
You can be sure your MGA broker will be standing by you throughout the claims process to help keep your farm running and maximise any claim settlement. We also offer access to more specific forms of farm produce coverage, such as crop insurance. If you need more information or would like to obtain a quotation, contact your local MGA broker with any queries.